Social housing buyers can get lower credit rates

Vietnam’s Ministry of Construction, with the recommendation of the State Bank of Vietnam (BEV), agreed to offer favorable loan rates between 3 and 5 percentage points lower to home buyers who apply for a 4.72 billion dollar social housing credit package.

Hanoi (VNA) – Vietnam’s Ministry of Construction, with the recommendation of the State Bank of Vietnam (BEV), agreed to offer favorable loan rates between 3 and 5 percentage points lower to home buyers who apply for a housing credit package of 4.72. billion dollars.

The aim of this measure is to create conditions for home buyers to have access to favorable loans in the context that the payment of the 4.72 billion dollar package was still stalled, the Ministry of Construction said on August 5 at monthly government meeting.

So far, only about $1.9 million of the package has been given to homebuyers.

The BEV sought input from ministries and agencies on proposed changes to the credit package for social housing development.

As a result, he suggested that the loan rate for home buyers would be between 3 and 5 percentage points lower than the average of the Big4 (BIDV, Vietinbank, Vietcombank and Agribank), while the rate for developers remain the same, between 1.5 and 2 percent. lower points.

So far, 34 of the 63 provinces and cities have announced 78 projects that are eligible to receive loans from the package.

Banks have paid more than 53 million 317 thousand dollars of the financing package, including almost 53 million dollars for investors of 12 projects and 1.9 million dollars for buyers of five projects./.